Ferro Corporation (NYSE: FOE, "Company") announced today that it has signed a definitive agreement with Milan, Italy-based Private Equity Funds' Management Company Star Capital SGR S.p.A. and two minority owners and founders Gianfranco Padovani and Sergio Zannoni to acquire Casola Valsenio, Italy-based Vetriceramici S.p.A. for €83 million (approximately $108 million) in cash.

The transaction will be funded with excess cash and a draw on the Company's existing revolving credit facility and is expected to close by December 1, 2014, subject to customary closing conditions.

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Source: http://www.businesswire.com